Theflyonthewall.com notes that Apple shares are up in pre-market trading, +$9.26, or +1.76%, to $536.94, as we write this article.

“The challenge for the stock now is to breach resistance at the 10-day moving average, which is a very strong downtrend resistance line proxy,” The Fly On the Wall reports.

“That moving average was last at $548.62,” The Fly On the Wall reports. “A failure to reach that objective and to break through it could mean the move we’ve seen is just short-covering. Support is currently at $533.72.”